Tuesday, January 10, 2012

The Times Of India:- Vaikunta Hill, off
Kanakapura Road, gives a bird's-eye view of the future of Bangalore
South. The hillock provides not only a 360-degree view of all of
Bangalore but also the trajectory the development of the city will take
in the coming years.

The 28-acre hillock, on Kanakapura Road
and very close to Konanakunte Cross, will be at the heart of the
path-breaking changes the city will witness.

Iskcon,
which bought the 28-acre hillock for Rs 23 crore at a public auction,
is building what it says is a Disneyland-like 4D technology driven Krishna Lila Park and will transform the tourist potential of Bangalore, Karnataka and India.

The construction work on
the theme park is expected to begin mid-2012 and get completed by
2016-17 . The estimated cost is around Rs 350 crores.

Apart from
the intrinsic attraction of the theme park, its spin-offs for Bangalore
are numerous: a 600-unit Gokulam Apartments has been built right next
to the hill and sold off to citizens, while a second block of 1,400
apartments is being built by Mantri Group also adjacent to the hill.

A massive block of 1,000 apartments already exists next to the hillock.
Gokulam apartment resident K A Shenoy told TOI: "We purchased the flat
not only because JP Nagar, Banashankari and Jayanagar are accessible,
but because we will be right next to a world-class social theme park.
The neighborhood will be hi-tech and socially alive and engaging."

Vaikunta Hill is expected to spur massive residential apartment projects and villas in the range of 3-10 km.

"Kanakapura Road is set to become the hot destination from 2012 onwards
as development is still now concentrated in the Yelahanka, Whitefield,
Sarjapura regions. Kanakapura Road and beyond is virgin area in a sense
and will see far more residential development than office space
development, followed by retail and commercial development," says Farooq Mahmood
of Silverline Realty . Owing to the arrival of a massive tourist hub,
property prices in and around Kanakapura Road area are bound to shoot up
in the next five years. The prices for a square foot of site hover
around Rs 3,150 to Rs 3,850, according to magicbricks.com, a property
site. While a two-bedroom flat may cost Rs 30-35 lakh, three-bedroom
ones will begin around Rs 50-55 lakh.

An acre of land in the area is running at Rs 9-10 crore. Expect a 10% to 15% rise in these prices in the next five years.

The location of Metro Cash and Carry on Kanakapura Road is attributed
to the presence of wealthy families in the area and the vastly spread small retail network in the area.

Housing activity along Kanakapura Road is expected to rapidly expand with the arrival of Metro Rail network.

The line will reach Konanakunte, which will be connected to Majestic, which , in turn, is connected to M G Road.

The co-ordinates

Kanakapura Road originates in the city at Krishna Rao Park
in Basavanagudi. Is close to J P Nagar, Banashankari, Jayanagar Is
16-18 kms from M G Road, Vidhana Soudha Metro rail is being built on
Kanakapura Road till Konankunte Cross The road cuts through Vasanthapura
and Konanakunte ward